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SecurityQuiet 10d · day 10

Binance resumes phased withdrawals after $6.36B hack attributed to North Korea

The exchange says it has covered 95% of losses and will absorb the full impact rather than charge users.

newest coverage 10d agosummary written 9d ago2 pieces Google NewsNewswires

What to know

  • Binance suffered a record $6.36 billion cryptocurrency theft on October 29 across ten blockchains; the FBI attributes it to North Korea's elite hacking unit.
  • The exchange has recovered 95% of stolen assets using its own resources and fully backed all major cryptocurrencies at 100%.
  • Binance is absorbing the entire loss rather than charging users and is resuming phased withdrawals after a precautionary pause.

“Binance says it has now covered about 95% of the impacted amount using its own resources with all major assets including Bitcoin, Ethereum and major stablecoins fully backed at 100%.”

Binance · The Daily Hodl ↗

Binance cryptocurrency exchangeFBI U.S. law enforcementTraderTraitor North Korea alleged attacker

Binance resumes phased withdrawals after $6.36B hack attributed to North Korea
dailyhodl.com

How it unfolded 1 development · click the chart to see its coverage articles

Peak 2 pieces in 3h at Nov 1, 12 AM; 2 pieces over 10 days (2 articles) Nov 1, 12 AM — 2 pieces · 2 articles — Newswires 1, Google News 1Nov 1, 2 AM — quietNov 1, 5 AM — quietNov 1, 8 AM — quietNov 1, 11 AM — quietNov 1, 2 PM — quietNov 1, 5 PM — quietNov 1, 8 PM — quietNov 1, 11 PM — quietNov 2, 2 AM — quietNov 2, 5 AM — quietNov 2, 8 AM — quietNov 2, 11 AM — quietNov 2, 2 PM — quietNov 2, 5 PM — quietNov 2, 8 PM — quietNov 2, 11 PM — quietNov 3, 2 AM — quietNov 3, 5 AM — quietNov 3, 8 AM — quietNov 3, 11 AM — quietNov 3, 2 PM — quietNov 3, 5 PM — quietNov 3, 8 PM — quietNov 3, 11 PM — quietNov 4, 2 AM — quietNov 4, 5 AM — quietNov 4, 8 AM — quietNov 4, 11 AM — quietNov 4, 2 PM — quietNov 4, 5 PM — quietNov 4, 8 PM — quietNov 4, 11 PM — quietNov 5, 2 AM — quietNov 5, 5 AM — quietNov 5, 8 AM — quietNov 5, 11 AM — quietNov 5, 2 PM — quietNov 5, 5 PM — quietNov 5, 8 PM — quietNov 5, 11 PM — quietNov 6, 2 AM — quietNov 6, 5 AM — quietNov 6, 8 AM — quietNov 6, 11 AM — quietNov 6, 2 PM — quietNov 6, 5 PM — quietNov 6, 8 PM — quietNov 6, 11 PM — quietNov 7, 2 AM — quietNov 7, 5 AM — quietNov 7, 8 AM — quietNov 7, 11 AM — quietNov 7, 2 PM — quietNov 7, 5 PM — quietNov 7, 8 PM — quietNov 7, 11 PM — quietNov 8, 2 AM — quietNov 8, 5 AM — quietNov 8, 8 AM — quietNov 8, 11 AM — quietNov 8, 2 PM — quietNov 8, 5 PM — quietNov 8, 8 PM — quietNov 8, 11 PM — quietNov 9, 2 AM — quietNov 9, 5 AM — quietNov 9, 8 AM — quietNov 9, 11 AM — quietNov 9, 2 PM — quietNov 9, 5 PM — quietNov 9, 8 PM — quietNov 9, 11 PM — quietYesterday, 2 AM — quietYesterday, 5 AM — quietYesterday, 8 AM — quietYesterday, 11 AM — quietYesterday, 2 PM — quietYesterday, 5 PM — quietYesterday, 8 PM — quietYesterday, 11 PM — quietToday, 2 AM — quiet 1
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  1. 1

    Binance announces it has covered 95% of losses and resumes phased withdrawals

    Binance says it has covered about 95% of the impacted amount using its own resources, with all major assets including Bitcoin, Ethereum and major stablecoins fully backed at 100%. The company commits to absorbing the entire financial impact rather than passing losses to customers and will release a full post-incident report once the investigation concludes.

    “Binance says user funds remain safe, and it will absorb the entire financial impact rather than passing losses to customers.”
    — Binance

    1. 1 outlet first by The Daily Hodl, 10d ago · read ↗

  2. background

    FBI attributes attack to North Korea's elite hacking unit — The FBI identified TraderTraitor North Korea's elite hacking unit as responsible for the theft based on robust on and off-chain intelligence.

  3. background

    Binance suffers record $6.36 billion cryptocurrency theft — An attacker drained approximately $6.36 billion across ten blockchains in roughly 20 minutes, prompting Binance to pause withdrawals as a precaution.